Fintech is a new and developing aspect of the financial world that you are probably already paying close attention to. Cutting-edge instruments such as Bitcoin and other cryptocurrencies, high-speed algorithmic trading, AI-analysis of investment potential… these are all trends that are on their way to upending the financial industry. It goes without saying that anyone with expertise in any of those areas is in high demand right now.

O’Connell suggests looking for a certified financial planner (CFP), someone who has gone through additional training and testing to become certified. You can find one at Let’s Make a Plan, a website from the CFP Board of Standards. Robo-advisors are excellent set-and-forget investment options for those who are too many years from retirement or don’t have enough assets to need a full-service financial advisor. Read more about Best advisor here. Once you’ve identified one or more financial advisors, it’s time to evaluate your candidates. Being fully independent means having no affiliation with a product or firm like a bank, brokerage or insurance company. Meanwhile, financial advisers who are not independent will work for a larger firm and may have to put that firm’s interests ahead of their clients.

Financial planners can pursue optional degrees and certifications to demonstrate their mastery of the field and advance professionally. A master’s degree in business administration, accounting, or finance can help financial planners qualify for advanced personal financial advisor jobs with higher pay. A financial advisor can help you with a one-time need, such as developing a financial plan, or they can be more of a long-term financial guide.

They offer information and guidance to help you make smart decisions, and keep you on track. Allan Roth is a certified financial planner and CPA in Colorado Springs. This is not to say that all commission-based planners are out to rip you off; they’re not. I’m a certified financial planner (CFP) and a member of the Financial Planning Association (FPA). Roughly 70 percent of the FPA’s 23,800 members are CFPs; earning the designation typically requires months of study to pass a reasonably tough exam. While your job title won’t be “financial advisor” yet, these jobs can serve as a good starting point especially if you’re still trying to get your feet wet and figuring out your career path. Licensing plays an important role in a highly regulated field like the financial services industry.

Financial Advisor Training That Lays the Foundation for a Successful Career

While not everyone needs an ongoing relationship with a certified financial planner, pretty much everyone can benefit from having a consultation — and some initial input — with a CFP. Especially since there are a variety of concerns that a financial professional can assist with. Some other trustworthy credentials you can check for are CFA (Chartered Financial Analyst) and CFP® (Certified Financial Planner™). The CFA is specific to individuals who do detailed analysis of investments.

A financial advisor is a general term that includes professionals like brokers, investment advisors, and bankers, who may have various certifications and licenses. In contrast, a financial planner specifically focuses on creating and executing long-term financial and investment strategies. A wealth manager is typically an advisor hired by higher net worth investors to help with their investments, tax planning, estate planning, and so on. Advisors who focus on wealth management typically provide all of the traditional types of financial advice but are geared toward helping their more affluent clients grow and preserve their wealth.

Once you get successful and you’re making $300k-500k a year, it becomes even harder to rock the boat. The industry and even the regulators all support this, even if they say they don’t, they still do. A J.P. Morgan Private Client Advisor works with you to understand your goals, to create a customized strategy and help you plan for your family’s tomorrow, today. Using an updated version will help protect your accounts and provide a better experience. “There are just a lot more ways to optimize at those stages,” O’Connell says. “And the intersection of legal considerations, financial considerations, wealth considerations, and tax implications really require a level of expertise.” Emily Peterson is an experienced fact-checker and editor with Bachelor’s degrees in English Literature and French.

Financial advisor services to consider

The CFP, one of the most challenging but valuable, can only be had with a specific set of coursework under your belt, even after you earn the required bachelor’s. At every level of college education, accreditation is an important consideration. Most students, however, never really do have to consider it—a basic general accreditation is pretty standard for most American universities, so much so that you’ve probably never come across one that doesn’t have it.

JPMorgan Chase & Co., its affiliates, and employees do not provide tax, legal or accounting advice. Information presented on these webpages is not intended to provide, and should not be relied on for tax, legal and accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any financial transaction.

In this article, we’ll look into the key responsibilities of financial advisors, what skills you should look for, how to evaluate candidates, how much you can expect to pay, and what interview questions to ask. Becoming a financial advisor can offer a lucrative, rewarding career choice for many people in the industry. Consider the following potential pros and cons to help make your decision.